Jash Engineering Limited NSE SME IPO receives subscription of 4.80 times

The Initial Public Offering (IPO) of SME company Jash Engineering Limited at NSE SME Exchange has received total bids for 1,91,96,400 equity shares resulting in a subscription of 4.80 times.

The Qualified Institutional Buyers(QIBs) portion of the issue received bids for 51,49,200 equity shares. Out of the above, Foreign Institutional Investors(FIIs) subscribed for 10,33,200 equity shares, Domestic Financial Institutions(Banks / Financial Institutions(FIs) / Insurance Companies) subscribed for 0 shares, Mutual funds for 0 equity shares and others for 41,16,000 equity shares.

The Non Institutional Investors portion of the issue received subscription for 1,11,04,800 equity shares. Out of the above, Corporates applied for 12,43,200 equity shares, Individuals(Other than RIIs) have subscribed for 96,98,400 equity shares and others for 1,63,200 equity shares.

The Retail Individual Investors(RIIs) portion received bids for 29,42,400 equity shares. Out of the above, subscription for 18,24,000 equity shares were at Cut Off price and the balance of 11,18,400 equity shares were through price bids.

The company came out with Public issue of 40,00,800 Equity Shares (including Market Maker reservation portion of 2,00,400 equity shares) at a price band of Rs. 115 to Rs. 120. The Face Value of each share is Rs. 10.

Systematix Corporate Services Limited was the Book Running Lead Manager to the issue. Linkintime India Private Limited is the registrar to the company.

Source : Equity Bulls

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